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25th September 2018
Avaloq upgrades open software architecture for banks and wealth managers
Avaloq has upgraded its open software architecture. The key components of Avaloq’s new software architecture are self-contained systems that banks and wealth managers can easily adopt individually. Avaloq’s clients will benefit from greater business agility and scalability, improved time-to-market and lower risk.
The upgrade allows financial institutions to consolidate IT operations onto a single platform. This will enable Avaloq’s clients to build, deploy and manage Avaloq and third-party applications, such as output management systems, more consistently across internal infrastructures. Avaloq is collaborating with Red Hat to simplify and further standardise the deployment and operation of software components by means of Red Hat’s Kubernetes application platform Red Hat OpenShift.
The key components of Avaloq’s open software architecture are self-contained systems and microservices deployed as Docker containers, orchestrated by Kubernetes. Each self-contained system is designed to handle a single business aspect, such as goal-based wealth management.
Avaloq’s modular approach means that financial institutions can adopt and upgrade individual self-contained systems as well as microservices independently and focus their efforts on the product and service areas that can deliver the most value and business growth. Red Hat OpenShift Container Platform, based on Kubernetes, is already operational.
Thomas Beck, Group Chief Technology Officer at Avaloq, said: “This upgrade to our architecture strategy is a transformational moment in the evolution of Avaloq’s software, allowing clients to better capitalise on the significant digital trends shaping the financial sector.
"The collaboration with Red Hat provides clients with world-class solutions to meet the growing demands of their own global clients, allowing for much easier integration and implementation of new applications, processes and services while providing consistent worldwide support.”
Leonard Bodmer, Red Hat Switzerland country manager, said: “We are pleased to collaborate with Avaloq to bring Red Hat OpenShift to its clients, offering them the leading enterprise Kubernetes cloud platform. Red Hat and Avaloq have benefitted from a long-standing relationship and we are delighted with this latest expansion of this successful collaboration.”